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☆ Stocks are pricing in more earnings erosion after first batch of reports
▼ + stars: | 2023-01-18 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. At 4,000 on the S & P 500, fewer things can safely go wrong without spurring the sellers than at 3,700. Earnings are yet again a give-and-take proposition, too early to draw broad conclusions but in general a bit of a downside tilt. Stocks themselves have done some work to price in further risk of profit erosion, but surely not in all cases. Market breadth moderately negative today but no washout yet, maintains the generally firmer footing its enjoyed this month.

What are credit card and bank rewards points worth? One great feature of the program is that all points are equal, so any account that earns Membership Rewards points has access to transfer partners. If you're a Bank of America Preferred Rewards customer, you'll earn 25% to 75% more points, depending on how much you have on deposit, but your rewards points are still worth 1 cent apiece. You can transfer points from Chase Ultimate Rewards, Amex Membership Rewards, and Citi ThankYou to JetBlue, but the ratio varies depending on the rewards program. However, those miles expire after 36 months regardless of your account activity, so only transfer miles when you have immediate plans to redeem them.

☆ Companies like Amazon and Salesforce use layoffs to cut their lowest performers — and recruiters know it
▼ + stars: | 2023-01-07 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Salesforce, Compass, and Amazon recently laid off thousands of what they called "low performers." What's more, a tight job market means that hiring managers can't afford to be so choosy. But as we enter the new year, and recession fears mount, the continued strength of tech hiring is an open question. Still, recruiters say that candidates laid off by virtue of supposedly poor performance are not disqualified from consideration — far from it. Some recruiters say they take an empathetic approach based on personal experience.

☆ Having a mean boss may be upsetting, 'but it’s not traumatic,' says psychologist—here's why
▼ + stars: | 2023-01-05 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +3 min

Working for a difficult boss can color your professional life for years to come. Fisher is a former instructor at Harvard Medical School whose research has advanced the trauma treatment field. “Being undervalued is a very distressing experience,” Fisher says. “But it’s not traumatic.” Still, mainstream popularity of books like The Body Keeps the Score has led to the term “trauma” becoming commonplace. An event that is distressing doesn’t yield the same response as an event that is traumatic, Fisher says.

☆ Compass is laying off more staff as it races to cut expenses to cope with a cooling housing market
▼ + stars: | 2023-01-05 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +4 min

Compass is laying off more people after two rounds of job cuts in the past eight months. The firm, which went public at an $8 billion valuation in 2021, now has a $1 billion market cap. The real-estate brokerage Compass told its staff on Thursday that it would be conducting another round of layoffs, with the money-losing firm seeking to further cut costs amid a weakening housing market. These layoffs follow rounds in June and OctoberAt the end of 2021, Compass had about 4,500 employees. In June, Compass let go of 450 employees across corporate departments, including administrative, marketing, and other support staff.

☆ Jan. 6 response would have been 'vastly different' if rioters were Black, House sergeant at arms told investigators
▼ + stars: | 2022-12-28 | by ( Ryan J. Reilly | Ryan J. Reilly Is A Justice Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

WASHINGTON — The House sergeant at arms, who was head of the D.C. National Guard during the attack on the U.S. Capitol, told the Jan. 6 committee that the law enforcement response would have looked much different had the rioters been Black Americans. I think it would have been a vastly different response if those were African Americans trying to breach the Capitol,” William J. Walker told congressional investigators, in an interview transcript released Tuesday. Walker indicated he thought that more rioters would have died at the hands of law enforcement on Jan. 6 had the makeup of the crowd not been overwhelmingly white. “You know, as a law enforcement officer, there were — I saw enough to where I would have probably been using deadly force,” Walker said. Walker told investigators that it was clear to him beforehand that Jan. 6 was going to be a "big deal" just from being aware of what was happening in the world.

☆ Aldi is the US's fastest-growing grocery chain and more middle-income households are shopping there. Here are the no-frills tactics that help make it so cheap.
▼ + stars: | 2022-12-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +13 min

More middle-income households are shopping there, lured by low prices and Aldi's "treasure hunt" approach. Smaller properties are cheaper to buy and maintain, and Aldi has said that its store layout enables "quick and easy shopping." Monford added that consumers "don't mind" that products aren't taken out of their boxes because they're shopping at Aldi for value. Campbell said the Aldi stores near her generally had just four or five aisles. Vadakkepatt said Aldi's stores have fewer employees and shorter hours than at other chains.

☆ 2022 was the year automakers figured out how to make electric cars really work
▼ + stars: | 2022-12-28 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

It was the year the industry (and other stakeholders) figured out how to make electric cars actually work. Here's a look at what made 2022 so important for the EV space — and why 2023 and beyond will likely be even more significant. Momentum this year showed the EV space just what it needed in terms of charging. But in 2022, EVs accounted for 5% of US new-car sales — what some called a tipping point. But the legacy auto companies weren't exempt from some of these challenges, and some of those problems trickled down to customers.

☆ 10 New Year's resolutions every leader should adopt in 2023
▼ + stars: | 2022-12-19 | by ( Anese Cavanaugh | ) www.businessinsider.com time to read: +6 min

When it comes to effective results as a leader, she says it's all about the "human stuff." Prioritize the human, be present with them, and see them, and create guardrails, agreements for performance, and clear expectations. If your intentions are clean and you're focusing on the right things, the truth works just great. Save yourself a ton of time, energy, and bandwidth to focus on the right things — as opposed to posturing, pretending, and evading hard truths. She's the author of "Contagious You: Unlock Your Power to Influence, Lead, and Create the Impact You Want."

You can get the latest on that and much more from our finance newsletter, 10 Things on Wall Street. It's a snappy weekday read with the biggest stories on the Street, plus the latest on hot-spot restaurants, industry parties, and so much more. On the agenda today:Up first: Senior real-estate correspondent Daniel Geiger is giving us a behind-the-scenes look at the recent turmoil at Compass. With home sales dipping amid rising interest rates, Compass has cut workers and bled cash. In June, it laid off about 450 corporate staff, and in October, it let go of about half its 1,500-person tech team.

☆ Compass CEO Robert Reffkin told his leadership team to step up managing out low-performing employees, as the company racks up losses and is forced to cut costs
▼ + stars: | 2022-12-09 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +5 min

Compass CEO Robert Reffkin sent an email to his leadership team on "managing out poor performers." Compass employees were disheartened. "It's also your responsibility to manage out employees who can't, or aren't, performing at that level," Reffkin wrote in the Sunday afternoon message. The full text of the memo was shared with Insider, and a Compass spokesman confirmed Reffkin sent the email. In June, Compass let go of about 450 corporate workers across departments.

Some economists have lowered growth forecasts for early next year for the world's second-largest economy, continuing the grim growth numbers this year that were among the worst of the past half-century. "Compared with other developed countries, medical resources in China are somewhat insufficient," said Nie Wen, a Shanghai-based economist at Hwabao Trust, who has cut his China growth forecast for the first quarter to 3.5%-4% from 5% previously. INFLATION SURGEWith China likely facing waves of COVID infections after the relaxations, the benefits of reopening are expected to arrive with a significant delay. "Given the accelerated reopening timeline, we believe growth may stay subpar near term," Morgan Stanley said after the announcement of the latest easing measures. Lurking among the prospects for China's reopening, however, is a potential surge in inflation, which could hit the global economy as well as China itself.

☆ Netflix's 'Wednesday' is competing with the streamer's biggest hits, 'Stranger Things' and 'Squid Game,' for record-high viewership
▼ + stars: | 2022-12-07 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

Netflix's "Wednesday" is already one of the streamer's biggest TV originals ever after two weeks. Its viewership is on pace to pass "Stranger Things" season four and is rivaling its top show, "Squid Game." "Wednesday" also had Netflix's biggest first week of viewership ever, beating "Stranger Things" season four. The show is chasing the Korean-language series "Squid Game" to be Netflix's biggest original show of all time, Netflix co-CEO Ted Sarandos said at an event in New York City on Tuesday. "This group is far more likely to be among highly engaged viewers because the series has strong overlap with other young-skewing Netflix shows," including "Stranger Things," Alexander wrote.

☆ How to Refinance Your Student Loans
▼ + stars: | 2022-12-05 | by ( ) www.wsj.com time to read: +14 min

You can refinance federal student loans, private student loans or both. “If you have several student loans, refinancing is a good way to help streamline payments,” says Joe DePaulo, co-founder of College Ave Student Loans, an online lender. How to refinance student loans in 5 stepsThe process of refinancing student loans typically only takes two to three weeks from start to finish. Student loan refinancing FAQWhen is a good time to refinance student loans? While both federal and private student loans are eligible for refinancing, only federal student loans qualify for Direct loan consolidation.

☆ January 6 committee staff are angry at Liz Cheney for focusing too much on Trump and think she's doing it for political gain, report says
▼ + stars: | 2022-11-23 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Staffers told The Washington Post they are concerned the final report could focus too much on Trump. The Post spoke to 15 former and current staffers who said Cheney, the committee's vice chair, has exerted high levels of control over the investigation and the final report. Some staffers said they felt that Cheney's focus on Trump was for her own political gain. Cheney's work on the committee, and staunch defiance of Trump, has raised her national profile and earned the praise of some Democrats. It's unclear when the committee's final report would be released, but Thompson has said it would come out by early December.

☆ For small-business owners, poor performers can be a drag on the bottom line. Here's how to help them improve.
▼ + stars: | 2022-11-22 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

InsiderPeople management is challenging for small-business owners, even when workers are productive. This article is part of Talent Insider, a series containing expert advice to help small business owners tackle a range of hiring challenges. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyPeople management is a perpetual challenge for small-business owners. Insider spoke with small-business owners and experts who offered advice on how to work with subpar employees to improve their performance. Nyberg said small-business owners often neglect to do this because they're stretched thin.

Elon Musk fired one of Twitter’s software engineers on Monday after the pair argued publicly over what Musk said was the company’s subpar experience for Android users. Some of the software engineer’s colleagues appeared initially uncertain as to whether Musk's tweet firing Frohnhoefer was sincere. Musk began exchanging tweets with Frohnhoefer on Sunday after the software engineer disputed a tweet from Musk about why the app had been "super slow in many countries" for those who use the Android operating system. "I have spent ~6yrs working on Twitter for Android and can say this is wrong," Frohnhoefer tweeted. Amid the back-and-forth, a Twitter user on Monday suggested Musk may not want Frohnhoefer "on your team."

☆ Lindsay Lohan's 'Falling for Christmas' isn't what you hoped it'd be -- it's so much more
▼ + stars: | 2022-11-12 | by ( Sandra Gonzalez | ) edition.cnn.com time to read: +4 min

Aliana Lohan, Lindsay Lohan and Chase Ramsey in "Falling For Christmas." You don’t need a crystal ball for the rest, nor should anyone have the delightful cheesiness and bacon redemption that takes place next ruined for them. It’s a joyful reminder that you don’t need to lose your memory to remember how precious fresh starts are. Lohan’s magic power has always been bringing to life films that have the simple goal of being unchallenging delights. If for that and that alone, “Falling for Christmas” is a gift.

☆ American Airlines pilots' union rejects new contract proposal
▼ + stars: | 2022-11-02 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

American Airlines pilots' union on Wednesday said its board of directors rejected a tentative agreement for a new contract, the latest in a series of setbacks in labor talks across major U.S. airlines. The Allied Pilots Association, which represents roughly 15,000 American Airlines pilots, said its board voted against the tentative deal 15-5. The rejection comes a day after United Airlines pilots turned down a deal that would have included roughly 15% raises. The Covid-19 pandemic had put labor talks on hold as airlines focused on making it through a massive drop in travel demand. "We cannot vote to approve a [tentative agreement] that does not adequately address the quality-of-life items of our line pilots," union representatives based at American's Dallas/Fort Worth International Airport hub said in a note to pilots before the vote.

☆ You can currently earn a 40% bonus when transferring Chase Ultimate Rewards points to Marriott, but it's only a good value in certain situations
▼ + stars: | 2022-11-01 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +9 min

40% bonus when transferring Chase Ultimate Rewards to MarriottPer Insider's valuations, Chase points are worth 1.8 cents each — while Marriott points are worth just 0.7 cents each. That narrows the value disparity slightly, giving you effectively 0.98 cents in Marriott points for every 1.8 cents in Chase points you transfer. With this 40% transfer bonus, you could convert 15,000 Chase points into Marriott points to reserve this room for free. Bottom lineChase has announced a new promotion that provides 40% bonus Marriott points when transferring Chase Ultimate Rewards. Still, converting Chase points into Marriott points is far from a no-brainer.

☆ Aldi is the US's fastest-growing grocery chain and more households earning $50-100K are shopping there. Here are the no-frills tactics that help make it so cheap.
▼ + stars: | 2022-10-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +12 min

Aldi is the US's fastest-growing grocer for the third year running, the real-estate firm JLL said. Aldi almost always has the lowest prices for core products like bread, milk, and eggs, Monford said. Monford added that consumers "don't mind" that products aren't taken out of their boxes because they're shopping at Aldi for value. Campbell said the Aldi stores near her generally had just four or five aisles. Vadakkepatt said Aldi's stores have fewer employees and shorter hours than at other chains.

☆ Two potential opportunities for value creation emerge as Starboard takes a stake in Salesforce
▼ + stars: | 2022-10-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Starboard views Salesforce as a high quality and sticky business at an attractive valuation with the potential for significant value creation through a better balance of growth and profitability. Salesforce peers are operating at a "rule of 50" – average revenue growth plus adjusted operating margins of peers equals 49.4. Salesforce currently has a revenue growth rate of 17.0% and 20.4% operating margins, which brings it to 37.4 combined. Starboard has had extensive experience with growth companies that begin to see slowing growth rates and need to either regain that growth and/or focus on margins. Even if they were to hit that target, this would only bring them to a growth + margin of 42.

Estimates that 80-90% of Russian oil will continue to flow outside the cap mechanism are not unreasonable, a U.S. Treasury official told Reuters. "Oil traders dealing in Russian oil are no longer in Switzerland, Geneva or London. P&I services heeding EU law insure 95% of the world's shipborne oil trade, meaning the EU move could have halted most of Russia's exports. Insurance and shipping industry figures still saw themselves at risk of sanctions which could upend the trade even in the G7 price cap workaround. The EU ratified the price cap this month but details on implementing it remain forthcoming.

☆ Covid was a contributing factor in 25% of maternal deaths in 2020 and 2021
▼ + stars: | 2022-10-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

It finds that pregnancy-related deaths have spiked nearly 80% since 2018, with Covid-19 being a factor in a quarter of the 1,178 deaths reported last year. “We were already in the middle of a crisis with maternal mortality in our country,” said Karen Tabb Dina, a maternal health researcher at the University of Illinois at Urbana-Champaign. The maternal death rate is particularly stark for Black women, who have long faced worse maternal outcomes than their peers. Pregnancy-related deaths for every 100,000 births climbed from 44 in 2019 to 68.9 among Black women last year. More than half of rural counties didn’t have a hospital offering pregnancy care as of 2018, the review found.

☆ There are 7 types of bosses, says workplace culture expert—only 1 is worth working for, or trying to become
▼ + stars: | 2022-10-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Others only seem good at first, and you can use this guide to differentiate between the two, says workplace culture expert Tom Gimbel. "There's an expression: 'People join companies, but they quit bosses," Gimbel tells CNBC Make It. Gimbel says there are seven types of bosses, with one clearly better than the rest. Socializing at work certainly isn't bad, but Gimbel says those bosses prioritize making friends over properly leading and keeping a team accountable. Those bosses don't realize that it's largely their fault when a finished assignment is far from what they want.

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